Economia
Divertido!!
Division of Labour: Even a smart Supreme Court Justice can have trouble with supply and demand analysis
JUSTICE STEVENS: Let me ask this question. What is your view with respect to the impact of the activities concerned in this case on the interstate market for marijuana? Is it your view that it will have no impact, that it will increase the interstate demand, or decrease the interstate demand? So there are three alternatives. Which is the one we should follow?
MR. BARNETT: Can I pick "trivial impact"?
[Laughter.]
JUSTICE STEVENS: No, but if it -- "trivial impact," is it a trivial impact that enhances the price of marijuana or decreases the price of marijuana, in your view?
MR. BARNETT: The only effect it could have on the price would be a slight trivial reduction, if it has any effect at all, because it's going to withdraw users from the illicit drug market. And to the extent that they are now in the illicit drug market -- and we don't know whether they are or not -
JUSTICE STEVENS: Well, that would reduce demand and increase price, it seems to me. It's the other way around.
MR. BARNETT: Well, it would reduce demand and reduce prices, I think. But -
JUSTICE STEVENS: If you reduce demand, you reduce prices? Are you sure?
MR. BARNETT: Yes.
[Laughter.]
JUSTICE STEVENS: Oh, you're right. You're right. Okay. Yeah. Yeah.
- Sophie’s Choice
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Economia
Divertido!!
Division of Labour: Even a smart Supreme Court Justice can have trouble with supply and demand analysis
JUSTICE STEVENS: Let me ask this question. What is your view with respect to the impact of the activities concerned in this case on the interstate market for marijuana? Is it your view that it will have no impact, that it will increase the interstate demand, or decrease the interstate demand? So there are three alternatives. Which is the one we should follow?
MR. BARNETT: Can I pick "trivial impact"?
[Laughter.]
JUSTICE STEVENS: No, but if it -- "trivial impact," is it a trivial impact that enhances the price of marijuana or decreases the price of marijuana, in your view?
MR. BARNETT: The only effect it could have on the price would be a slight trivial reduction, if it has any effect at all, because it's going to withdraw users from the illicit drug market. And to the extent that they are now in the illicit drug market -- and we don't know whether they are or not -
JUSTICE STEVENS: Well, that would reduce demand and increase price, it seems to me. It's the other way around.
MR. BARNETT: Well, it would reduce demand and reduce prices, I think. But -
JUSTICE STEVENS: If you reduce demand, you reduce prices? Are you sure?
MR. BARNETT: Yes.
[Laughter.]
JUSTICE STEVENS: Oh, you're right. You're right. Okay. Yeah. Yeah.
loading...
- Sophie’s Choice
Resolvi começar a postar os resumos dos relatórios que publico pela consultoria. Só os resumos, bem entendido, e apenas uma semana depois dos clientes terem recebido o material. Os relatórios completos não estarão disponíveis.• The performance...
- O Que Tem Me Afastado Do Blog
Tenho postado pouco ultimamente. Por aqui o semestre vai chegando ao final... trazendo a tradicional alegria. Selecionei duas partes (de 4) de uma questão da prova de macro do ano passado. Enfim, tai pra quem quiser brincar. Não achei muito fácil,...
- O Multiplicador Keynesiano Pode Ser Negativo
KEYNESIAN GOVERNMENT SPENDING MULTIPLIERS AND SPILLOVERS IN THE EURO AREA by Tobias Cwik and Volker Wieland Abstract The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of...
- A Lei De Say Na Versão De James Mill
"When goods are carried to market what is wanted is somebody to buy. But to buy, one must have the wherewithal to pay. It is obviously therefore the collective means of payment which exist in the whole nation constitute the entire market of the nation....
- Mercado Imobiliário Norte Americano: Falhas De Mercado Ou Falhas De Governo?
Para o economista Gerald P. O'Driscoll Jr., o problema são falhas de governo: "For all the talk of the failure of markets, what is actually working is markets. What failed were government policies of cheap credit and attempting to make housing affordable...